Forex trading live calls and set ups

[Lord Flasheart]

short eur/usd at 1.3756 s/l 1.3770.
i still beleiuve it has to come off these levels. a good fri sell off is required,still short eur/jpy

thats me done,have a great weekend all

 

[jon1971]

Interesting to note on EU that yesterday's close was right on (to within a few pips) the 161.8% Fibonacci projection of the August down move.

 

[jon1971]

Also drawing a trend channel from the very start of the current rally to the subsequent swing low and drawing a parallel channel trend line across the previous swing high, would indicate that EU is currently at a high, couple this with the severely over-bought readings on (insert your favourite oscillator) and all evidence points towards a near term corrective pull-back at the very least.

 

[jon1971]

We also have this fairly distinct high put in on the 17th March, which comes in at 3817...

 

[leovirgo]

Very interesting analysis - also very obvious. That means there will be sellers (may see initial decline for 100-200 pips ) but we may also see higher highs (short sellers will call them stop runnings -up to 3x Daily ATR of recent highs).

What is your plan Jon? Are you gonna swing short tomorrow?

 

[jon1971]

Very interesting analysis - also very obvious. That means there will be sellers (may see initial decline for 100-200 pips ) but we may also see higher highs (short sellers will call them stop runnings -up to 3x Daily ATR of recent highs).

What is your plan Jon? Are you gonna swing short tomorrow?

Yeah Leo, I think I'll take a shot at least for a short term correction, there seems to be a lot of calling for 1.40, what's your take?

 

[leovirgo]

Yeah Leo, I think I'll take a shot at least for a short term correction, there seems to be a lot of calling for 1.40, what's your take?

As far as my method is concerned, it is still in up trend.

 

[jon1971]

The trend is your friend and all that.. I dunno, I think it looks a little over stretched, but then I thought that 50 pips ago.

I certainly won't be placing a stop 3xATR above the market.

 

[jon1971]

http://www.thesun.co.uk/sol/homepage/news/3163115/US-to-issue-Euro-terror-warning.html

How typical is this of the spackos at The Currant Bun (groan!).

Headline contradicted in the very first line of the article, "TO issue" followed immediately by, "COULD issue..."

Alert has now been confirmed as issued, but note the time stamp on this post..

 

[Lord Flasheart]

love the analysis and its exactly why I was selling on Friday.I have blown up this chart to show the 4 lines that are in place. I kept beleiving it would turn down at somepoint friday.It never did. It went through all 4,which generally would mean a sharp movement up. The only thing stopping it is that March high.Ill still find it hard not to short this though. Working it out and trading it are totally different as we know. Its gone 400 pips in 4 days up to that high,so based on that it has to turn from the high.

 

[jon1971]

Thanks, my main reservation is the close on Friday being so close to the high, which usually indicates continuation. The market will either validate or invalidate our analysis (how to state the bleedin' obvious)...

 

[leovirgo]

Yes, if a trader keeps shorting for 40 times, it would eventually get a down move. But the question is, why did he miss 400 pips up move? And, how much did it cost to do that?

 

[wackypete2]

Yes, if a trader keeps shorting for 40 times, it would eventually get a down move. But the question is, why did he miss 400 pips up move? And, how much did it cost to do that?

Agreed. Check out the 4h chart of eurusd. straight line up. I'm guilty of wanting to short the eur also but this chart really makes you think twice.

 

[Lord Flasheart]

dont you guys ever start early,part timers

short eur/jpy at 114.77 s/l 114.93. Its just moved 10 pips while im writing.happy start to week i hope

 

[Lord Flasheart]

moved back again,just a little spike
Heres why 60 min t/l. sold off top

 

[Lord Flasheart]

dont you guys ever start early,part timers

short eur/jpy at 114.77 s/l 114.93. Its just moved 10 pips while im writing.happy start to week i hope

1/2 off at +28 happy days

 

[Lord Flasheart]

Hey BP whats the weather like in Gods country,cant beleive youve had worse than us,**** for weeks.

 

[Black Swan]

2 short term 5 min TF trades this morning;
stop 25
no TP
Pips +36

Took a gbp/jpy trade, unusal for me, but it just sat there and asked for it..

 

[Black Swan]

That's it for short term 5min TF trading today;
stop of 25
No TP
+ 25 pips

 

[Lord Flasheart]

1/2 off at +28 happy days

movced stop to + 40 for 2nd 1/2, target is somewhere near bottom of line around 113.86